Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

US court gives Gülen 21 days to present his defense

The extradition of U.S.-based Islamic scholar Fethullah Gülen was “unofficially” demanded in a civil suit filed last week by lawyers hired by the Turkish government, while a judge who accepted the appeal has given Gülen 21 days to respond to accusations filed against him.

Does Erdogan really want Gulen in Turkey?

General assumption is that Erdogan is indeed playing a cynical game with the Gulen issue, and also involving the United States in this, in a populist effort aimed at his own constituency in the lead-up to the presidential elections in August, where he is expected to run.

Van NGOs: Calling Hizmet movement ‘virus’ and ‘hashhashin’ unnaceptable

Non-governmental organizations (NGOs) active in the eastern province of Van said in a press conference that the tension experienced in Turkey recently has ruined the country and that any remarks or behavior against the Hizmet movement will not be tolerated.

Political raids targeting educational institutions a ‘hate crime’

Samanyolu Education Foundation’s Lawyer Selamet Şen has stated that the measures constitute to nothing more than a hate crime and discrimination, underlining that the institutions are both open for inspections which they have passed with flying colors.

Fethullah Gülen awarded Manhae Peace Prize

Well-respected Turkish intellectual and scholar Fethullah Gülen was awarded the Manhae Peace Prize for his contributions to world peace at a ceremony held in South Korea on Sunday. Among the prominent recipients of the Manhae awards since they were first presented in 1997 are former South African President Nelson Mandela, exiled Tibetan spiritual leader the Dalai Lama and Iranian rights advocate Shirin Ebadi.

Kyrgyzstan: Antagonism Grows with Turkey Over Gülen Links

In the eyes of the government of Turkey, where Gülen is from, the sprawling building immaculately cast in the bright colors of the red Kyrgyz flag is little short of an incubator of terrorism and plots to subvert the state. Ankara’s antagonism to Gülen’s international influence has deep roots, and the Turkish government’s attempt to link the educator with the recent failed coup is intensifying that animosity. But Kyrgyzstan, which is host to at least a dozen Gülen-linked schools and one university, is holding its ground — up to a point.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

Turkish schools in Afghanistan won 147 medals this year

Turkish schools and the race in philanthropy!

Court rules for release of Zaman chief editor, Samanyolu manager arrested

Why was I mistaken about political Islamism?

After Reunion: A Quiet Transformation Within the Hizmet Movement

Hizmet, Gaza and the 14-year-old boy

Gulen Charter Schools: Ignorance and Lies Beyond Reality

Copyright 2026 Hizmet News